Pennsylvania Siblings Launch New Baby Formula Company, Challenging Market MonopoliesPenny Starr 9 Jul 2022
In the wake of a baby formula shortage brought on by Joe Biden’s economic policies, a brother and sister are making a timely and somewhat historic entry into the market by launching ByHeart in Reading, Pennsylvania.
Until now, just a handful of companies have had 90 percent of the market share — Abbott, Gerber, Mead Johnson, and Perrigo Nutritionals — in part because of federal contracts to supply formula to low-income families.
And supplies dried up when Abbott shut down its Michigan Similac plant earlier this year after a bacterial infection that led to the deaths of two infants was alleged to have originated there.
“We are disrupting a category that has not been disrupted in decades,” Mia Funt, 39, cofounder and president of ByHeart, said in an interview with the Philadelphia Inquirer last week.
She founded the company with her brother and fellow University of Pennsylvania graduate, Ron Belldegrun, 36, who is chief executive officer.
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https://www.breitbart.com/health/2022/07/09/pennsylvania-siblings-launch-new-baby-formula-company-challenging-market-monopolies/